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Starting a new business - Start your own business - Oliver Niland Chartered Accountant  & Tax Specialist Galway Ireland

When do I register for VAT ?

When do I register for VAT ?

When do I have to register for VAT ?

You have to register for VAT if your sales has exceeded or likely to exceed the thresholds listed below in any 12 month period:

The principal thresholds are as follows:

  1. €37,500 in the case of persons supplying services only (i.e. carpenter or hairdresser)
  2. €75,000 for persons supplying goods. (i.e furniture or retail shop )
  3. €75,000 for persons supplying both goods and services where 90% or more of the turnover is derived from supplies of goods.
  4. €37,500 for persons supplying goods liable at the reduced or standard rates which they have manufactured or produced from zero rated materials.
  5. €35,000 for persons making mail-order or distance sales into the State.
  6. €41,000 for persons making acquisitions from other European Union Member States .
  7. A non-established person supplying taxable goods or services in the State is obliged to register and account for VAT irrespective of the level of turnover.

If you are below the thresholds you may elect to register for VAT.

Any queries in regards to the above please give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie

 

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